Inside the Restaurant of the Future / Ben Calleja (LIVIT) speaks at RestaurantSpaces

Summary

The speaker from Livid, a company known for restaurant design, discusses their global expansion and insights into the future of the industry. They share their innovative approach to creating a fine-dining experience at fast-casual prices, emphasizing operational efficiency, technology, and staff flexibility. The presentation highlights their lab store in downtown LA, which won 'Best Restaurant Design of the Year', and explores how they achieve high throughput, efficient labor, and a frictionless customer experience through technology and design.

Takeaways

• 🌐 Livid is a global restaurant design company with a presence in 46 countries and an annual opening rate of around 1000 restaurants.
• 💡 They focus on operational efficiency and technology to disrupt the industry, aiming to understand consumer trends across markets.
• 💰 Coming from Stockholm, where they pay a high minimum wage, Livid has solutions to address challenges related to increasing labor costs.
• 🏆 They have learned from various industry players and are now focusing on creating an experience that is both convenient and aspirational.
• 🍽️ Livid's concept combines the efficiency of fast food with the ambiance of fine dining, aiming for high throughput and transaction capacity.
• 🛠️ Their latest store in Sweden is a 3500 square feet space with 200 seats, showcasing a reduced footprint and innovative design.
• 👨‍🍳 They hire team members with no prior restaurant experience, emphasizing operational efficiency and staff flexibility through cross-training.
• 📱 The company is tech-driven, leveraging technology to enhance the dining experience and operational efficiency.
• 🏆 Their US lab store in downtown LA has won the 'Best Restaurant Design of the Year' award, showcasing their global sourcing and design capabilities.
• 📈 Livid measures and tracks various aspects of the restaurant experience in real-time, using data to optimize guest experience and operational efficiency.
• 🔮 They experiment with different elements like music, scent, and lighting to enhance the dining experience and influence customer behavior.

Q & A

What is the main purpose of the session described in the transcript?

The main purpose of the session is to share insights and learnings with the attendees, hoping that they can apply these to their operations or brands.

In what countries is the company mentioned in the transcript currently operating?

The company is operating in 46 countries.

How many restaurants does the company open per year?

The company opens roughly a thousand restaurants per year.

What is the minimum wage in Stockholm, as mentioned in the transcript?

The minimum wage in Stockholm is $23.

What is the company's approach to restaurant design and operations?

The company focuses on operational efficiency, technology, and disruptive innovation in the restaurant industry, aiming to create a lifestyle space that is both aspirational and affordable.

What was the concept behind the new restaurant model discussed in the transcript?

The concept is to combine the efficiency and affordability of fast food with the experience and environment of fine dining, without compromising on quality.

How does the company ensure operational efficiency in their restaurants?

The company ensures operational efficiency by hiring team members with no prior restaurant experience, cross-training them on all stations, and relying heavily on technology.

What is the significance of the '2.0 lab' mentioned in the transcript?

The '2.0 lab' is an advanced restaurant concept that the company has implemented, focusing on further technological integration and efficiency improvements.

What is the average capital expenditure for the restaurant mentioned in the transcript?

The average capital expenditure for the restaurant is between three and three point two million dollars.

How does the company leverage technology to enhance the guest experience?

The company uses technology such as sensors, real-time tracking, and geofencing to create a frictionless and personalized dining experience for guests.

What is the company's strategy for retaining talent in their restaurants?

The company's strategy for retaining talent includes listening to employees, creating brand style guides or dress codes that allow for self-expression, and providing a cool and engaging work environment.

Outlines

00:00

🌟 Innovative Restaurant Design and Operations

The speaker discusses the company's expertise in restaurant design and its focus on operations, technology, and industry disruption. With a global presence in 46 countries and an annual opening of a thousand restaurants, the company leverages its extensive market knowledge to understand consumer trends and challenges. Originating from Stockholm, where a high minimum wage is the norm, the company has developed solutions to tackle such issues. The speaker emphasizes the importance of creating an experience that balances affordability with a sense of belonging, aspiration, and operational efficiency. The company's research has led to a new concept that combines the efficiency of fast food with the ambiance of fine dining, aiming for high throughput and transaction capacity with a unique hiring strategy focusing on operational efficiency and tech integration.

05:00

🏗️ Disruptive Construction and Design Strategies

The speaker details the innovative construction and design strategies employed by the company, which include sourcing materials directly from factories worldwide and building off-site. This approach significantly reduces costs, as exemplified by the company's restaurant in downtown LA, which was built for 1.5 million dollars, half the estimated industry standard. The restaurant's design elements, such as a unique restroom, have become popular on social media, attracting attention without any marketing budget. The concept aims to cater to different times of the day, from breakfast to late-night lounge, and has been recognized as a top event space in downtown LA. The old jewelry store's transformation into a modern restaurant with a speakeasy in the former vault adds to the establishment's unique appeal.

10:01

🍽️ Streamlined Menu and Kitchen Operations

The speaker outlines the restaurant's simple yet effective menu, consisting of share balls, bowls, salads, and pizzas, with a significant portion being vegetarian or vegan. The focus is on affordability and efficiency, with the highest-priced item being a black truffle pizza at $16. The kitchen operates without traditional chefs, relying on an assembly line process designed by a Michelin-star chef. The front-of-house operations are equally streamlined, with a strong emphasis on presentation and storytelling through the drinks menu, which is designed to create visual appeal and social media engagement. The back-of-house is minimal, with the entire kitchen process relying on a single piece of equipment, reflecting the company's commitment to efficiency and innovation.

15:03

📊 Data-Driven Insights and Employee Engagement

The speaker discusses the data-driven approach to understanding and enhancing the guest experience. The company measures everything from dwell time to customer flow, using technology to track and analyze customer behavior in real-time. This data is used to optimize the dining experience, removing friction points, and increasing table turnover. The speaker also highlights the company's success in employee engagement, with a focus on hiring for attitude and providing cross-training opportunities. The use of technology extends to the employee training process, which is conducted through an app, and a unique approach to uniforms, allowing staff to express their personal style within a brand guide, resulting in high retention rates and employee pride.

20:03

📈 Future Trends and Conclusion

In the final paragraph, the speaker provides a quick overview of the company's approach to future trends, emphasizing the importance of understanding and leveraging technology, music, scent, and other sensory elements to enhance the dining experience. The speaker also mentions a trend report available for download, which summarizes the company's global learnings and insights. The presentation concludes with an invitation for further discussion and questions, highlighting the company's commitment to innovation and industry leadership.

Keywords

💡Disruption

Disruption in this context refers to the innovative approach taken by the company to challenge traditional restaurant operations and technology. It's about rethinking and redefining the industry norms to create a new model that is more efficient, technologically advanced, and customer-centric. The video discusses how the company aims to disrupt the industry by combining the efficiency of fast food with the experience of fine dining, as exemplified by their concept of 'fine dining environment at fast casual prices'.

💡Operational Efficiency

Operational efficiency is a core concept in the video, highlighting the company's focus on streamlining processes to improve productivity and reduce waste. This is achieved through technology integration, staff training, and process optimization. The script mentions hiring team members with no prior restaurant experience to ensure a fresh approach to operations, emphasizing cross-training for staff flexibility, which contributes to operational efficiency.

💡Technology Integration

Technology integration is a key strategy discussed in the video, where the company leverages advanced technologies to enhance the dining experience and improve business operations. Examples include using sensors and data tracking to understand customer behavior and optimize the restaurant environment, as well as implementing systems that allow for frictionless customer experiences, such as ordering and payment processes.

💡Experience Design

Experience design is central to the video's narrative, emphasizing the creation of a unique and memorable dining experience that goes beyond just food. The company aims to create a 'SIL house'—a place where customers can work, live, and play, and where they belong and are seen. This is achieved through a combination of aesthetic design, service innovation, and a focus on customer engagement and satisfaction.

💡Labor Market Challenges

Labor market challenges are discussed in the context of the company's operations, particularly in high-cost markets like Sweden. The video mentions the shift from a 'pool of labor' to a 'pond of labor,' indicating a scarcity of available workers. The company addresses this by hiring inexperienced staff and focusing on cross-training to maximize operational flexibility and efficiency.

💡Global Expansion

Global expansion is a significant aspect of the company's growth strategy, as mentioned in the video with the company's presence in 46 countries and the opening of roughly a thousand restaurants per year. This expansion allows the company to understand diverse consumer trends and challenges across different markets, contributing to their ability to innovate and adapt their offerings.

💡Menu Innovation

Menu innovation is highlighted in the video through the company's approach to offering a simple yet appealing menu that is largely vegetarian and vegan, with a focus on affordability and quality. The script mentions a Michelin-star chef creating the menu, which is then efficiently assembled by non-chef staff, demonstrating a unique blend of high-quality food and operational efficiency.

💡Customer Engagement

Customer engagement is a key theme in the video, with the company focusing on creating a space that encourages customers to interact with the brand and each other. This is evident in the design of the restaurant, the use of technology to enhance the dining experience, and the focus on creating shareable moments, such as the 'smoking pot' cocktail, which is designed for Instagram stories.

💡Social Media Marketing

Social media marketing is discussed in the context of user-generated content and the power of visual appeal in driving engagement. The video mentions the restaurant's restroom becoming the 'most instagrammed restroom in the US,' showcasing how the company leverages the power of social media without a dedicated budget, by creating spaces and experiences that customers want to share online.

💡Sustainability

Sustainability is implied through the company's focus on efficient operations, local sourcing, and the use of technology to minimize waste and environmental impact. While not explicitly mentioned in the script, the company's emphasis on efficiency and global sourcing practices suggests a commitment to sustainable business practices.

💡Branding and Packaging

Branding and packaging are discussed in the context of creating a memorable and shareable customer experience. The video highlights the company's innovative pizza box design, which not only serves a functional purpose but also becomes a marketing tool, encouraging customers to share pictures on social media, thus enhancing the brand's visibility and appeal.

Highlights

Livid is known for restaurant design but focuses on operations and technology to disrupt the industry.

The company operates in 46 countries and opens around a thousand restaurants per year.

Livid's insights come from a global perspective, understanding consumer trends across six continents.

The speaker is from Stockholm, where a high minimum wage has led to innovative solutions for labor challenges.

Livid has learned from various industry players, focusing on consumer experience and disruption.

Consumers seek a place that serves as a home, workplace, and entertainment hub.

The industry is moving towards a balance between convenience and experience.

Livid aims to combine the efficiency of fast food with the ambiance of fine dining.

The company's latest store in Sweden is 3500 square feet with 200 seats and high throughput.

Livid hires team members with no restaurant experience to ensure operational efficiency and staff flexibility.

Technology is key to profitability in high-cost markets like Sweden.

The company's lab store in downtown LA won the best restaurant design of the year award.

The LA store was built off-site, showcasing global sourcing and cost efficiency.

The restaurant's restroom is the most Instagrammed in the US, indicating successful user engagement.

Livid's concept aims to work from breakfast to late-night lounge, capturing all day parts.

The menu is simple, with a focus on vegetarian and vegan options, and high efficiency in food preparation.

The restaurant operates with a cross-trained staff, promoting flexibility and efficiency.

Livid measures and tracks everything in its restaurants, from guest flow to dwell time, to optimize the guest experience.

The company uses technology to create a frictionless dining experience, with orders triggered as guests enter.

Livid's focus on the five senses, including music and scent, influences guest behavior and satisfaction.

The company has a low staff turnover, emphasizing the importance of employee satisfaction and brand style in uniforms.

Livid shares its learnings and trends in a report available for download, offering insights into the future of the industry.

Transcripts

what I tried to do today on today's

session is sharing and hopefully by the

end of this session you can take some

insights with you to your operations or

to your brand so that's the main purpose

so livid is mainly known for restaurant

design but actually what's really

important what we do under the surface

where is everything from operation and

technology and really try to disrupt the

industry so as you see behind me we are

now in 46 countries and we open roughly

a thousand restaurants per year and that

gives us a little bit of the crystal

ball right knowing all markets six

continents where our consumers heading

what are the real challenges I come from

Stockholm we pay $23 minimum wage right

so when you guys here are concern about

minimum wage raising we come from the

future and we have solutions for that

hopefully so we've opened over 13,000

restaurants it's super cool to see some

of our clients in the room thanks for

that but over these years we've learned

a lot learn from the big guys and small

guys and the disruptors but I think

what's really happening is this

disruption and what consumers are really

looking for and the previous keynote

speaker talked a lot about experience so

what we've tried to do is really double

down on what is experience and what is

that we're looking for so we talk to a

lot of our guests and a lot of clients

obviously we do research and focus

groups all over the world and a lot of

them actually said would love this to be

a SIL house but we are the membership

it's a place where I can work I can live

I can play it's a place where I'm see

and be seen it's a place to belong and

at the same time it's aspirational it's

a place I wanted to belong to right but

I'm not gonna go away from value so it

still has to be affordable so we took

all those things and then we asked you

the operators what are you looking

really for what is the rest of that

future for you guys and the answer was

this we would love

to have the traffic and the throughput

of tears are put in a lifestyle wrapping

right when we're now almost the industry

is either you are convenience or your

experience we start trying to focus on

the experience the brick-and-mortar what

is that going to be in the future right

so we want their brands to be relevant

we obviously need a great return of

investment capital we want efficiency we

have problems with our skilled labor

there's a pond of labor not a pool of

labor right and we want it to be highly

tech driven so with all this information

that you gave us we said this what if

what if we could take the efficiency of

killers our affordable prices quick

service and plug that into a fine-dining

environment you know someone will you

have elevated food and good cocktails in

an aspirational setting nobody's done it

what would happen if we do it so our lab

brief was this we said we want to fine

dining environment at fast casual prices

we wanted high throughput and we measure

that at a guest every 30 seconds and

high transaction capacity a thousand

guests per store tied footprints our

latest store in south of Sweden is 3500

square feet with 200 seats and a reduced

Catholics I'll tell you more about that

and then this is what's really

interesting

we decided only to hire team members

that had never worked in a restaurant no

experience whatsoever and no chefs we

wanted operational efficiency and staff

flexibility cross-training

and lastly we wanted to be powered by

tech how can we be profitable in the

high cost market like Sweden and it was

interesting because we opened our first

or a lab store three years ago and then

four months ago we came to the u.s. and

open in the US and if you asked anyone

we're not to come and open a store they

said California

well there we went to California here we

are and not only in California we went

to downtown LA which is even more

challenging so after the success of

Stockholm and I had the pleasure to

share with you two years ago some of the

learnings from there we were named the

Amazon go of restaurants because of the

tech and efficiency we had we decided to

take it one step further and do a 2.0

lab so this is what it looks like it's

in downtown LA if you have time feel

free to visit the interesting thing

about this is we open only four months

ago and we just won the award for the

best restaurant design of the year

everything you see on these pictures is

built off-site we only hired MEP in the

u.s. everything else is directly sourced

from the factories so Granite's and

marble come directly from the quarry in

China or the furniture the bar comes

from Spain so we really source this

globally interesting fact I did a little

Q&A yesterday at the restaurant and I

asked four of you how much the capex was

for this restaurant and the answer was

between three and three point two

million dollars we built this whole

thing 4,800 square feet for 1.5 million

so just disrupting the way we build a

restaurant and design our restaurant is

very interesting this is a restroom is

the most instagrammed restroom in the US

and depending if you're in the male side

on the women's side there's different

messages so you have to check both out

yeah interestingly enough we spent $0 on

social media marketing zero we have no

budget for social media during the first

five days of operations we were getting

one Instagram follower per second we had

5,000 followers on day five this is all

user-generated content so what we wanted

to create is a concept that works from

breakfast early morning through lounge

you can come in you can sit you can hang

out with your laptop to late night

for those of you who haven't visited I

have a quick one-minute video of what

the space looks like on a Thursday night

[Music]

so in R Us store we've now started to

opening the evenings you can have some

music on and as we grow we're gonna

start with brunch and the lunch in our

Swedish store will normally add capacity

from 11:00 a.m. in the morning to 2:00

a.m. at night so it's all about

capturing all day parts having

everything from coming in early morning

in breakfast to really late late night

drinks and cocktails

[Music]

[Music]

it's been named the best space for

events in downtown LA which is great so

we do a lot of film shootings a lot of

events etc which is an additional

revenue stream this is a picture the

space was an old jewelry store from 1925

and we converted the vault into a

speakeasy so if you go to the restaurant

corridor there's a door that says

emergency exit alarm will sound if you

open that door you get into this

speakeasy but just because it's pretty

doesn't mean that it works so I want to

share some some insights and that you

can take with you hopefully to your

concepts and as a sneak peek to the

future so in terms of menu it's a very

simple menu we have share balls

we have bowls and salads and we have

pizzas 60% of the menu is vegetarian 20%

of the menu is vegan very quick very

easy

our highest item on the whole menu is

$16 it's a black truffle pizza with real

black truffle there's no truffle oil so

thanks to throughput scale and

efficiency you can really have

affordable prices in an environment like

this this is our food this is how it

looks like considering that we're using

no chefs so we work with a Michelin star

chef that actually creates our menu but

everything is based on assembly line so

this is some the look of some of the

dishes we have no mixologists so most of

our cocktails or all the cultures from

the cocktail lists are pre batched but

we focus a lot of the presentation so

the one to the right is called the

smoking pot we can sell 200 smoking pots

a night in this place and it's all about

the look and feel so most of our drinks

are actually designed not for picture

they're designed for stories for

Instagram stories so there's a movement

in it the drink to the left actually

comes in yellow and when you pour it

turns red you guys that visited

yesterday you had a drink that was white

and when we poured it turned out to be

purple so very interesting very limited

back-of-house this is the only piece of

equipment I toured some of you the

kitchen there's no kitchen

and the prep is this ice and that's it

so everything goes only through one

piece of equipment and that's why we

have a kitchen there's only 600 square

feet out of 600 square feet kitchen we

can produce a thousand meals a day a

very interesting model the fact that we

hire for attitude you don't need to have

experience in the restaurant allows us

to cross train so every train or the

whole training of the team members is on

an app they train on the way home or on

the way to work and what we do is that

we promote cross-training so the more

stations they are trained on the more

money they make and that allows us to

have everyone work every station the

chef can do a drink the guy the bar can

do the dishes and the dishwasher can run

tables so everyone does everything with

that in our Stockholm restaurant we do

five guests per labor hour and when we

count labor hour we include cleaning we

clean our own restaurants so we're able

to do five guests per each labor hour

that's the trick to be profitable in the

23 books in our market so we are able to

do 8 table turns per day that's once you

get the efficiency in rotation and the

team members structure it's very

interesting what you could do we're

actually faster than these guys so we're

now working with hotel companies that

are tired of having deliverer and uber

drivers in their corridors because you

order a club sandwich from the main

kitchen it's gonna cost you 35 bucks and

45 minutes so we can really deliver to

the restaurant to the hotel rooms in

less than seven minutes so in terms of

return of investment in sourcing as I

mentioned really think out of the box

how we source things and try to jump

over a lot of the steps we have the

advantage of being globally connected

with vendors so we can really be Navas

t'v and that there's a lot of money to

be saved

doing that and there's some sharing this

is our pizza box and some of you have

seen it it's gone viral people said we

were completely nuts you can't do a

pizza box that cost a dollar it's

impossible and we said ok we call this

the project

pizza box for the boardroom if a board

would to order pizza what would that box

looks like so what you touch is actually

silk and slides out and is the same

friction that when you open your iPhone

product you know that little suction

when you open the box what it was very

interesting and we did a focus group so

we took exactly the same pizza the same

food and presented it in our box and in

a white box and we asked guests how much

were they were willing to pay for the

same product they are willing to pay 27%

more money for the same product in our

box versus a white box we kind of

expected that but what we did not know

is that 80% of people that order our box

posted on Instagram so we can actually

take the money from the marketing budget

not from the optics budget and very

interesting as well and it's a good

learning for you

they not taking the pizza out of the box

and put it on the plate and take the

picture they take this picture and

what's on this picture or brand so make

sure that the picture or the the

packaging is picture worthy and the

brand is relevant on on the actual

packaging we're starting to get orders

of 150 or 200 pizzas I don't have 200

friends so we started to call back to

these guys and sorry I have to ask why

are you ordering 200 pizzas and it's for

weddings at 3 a.m. in the morning where

people are drunk they won't have pizza

but they don't want a Domino's Pizza

sorry Domino's they really want

something elevated so a lot of events we

had a t-shirt company launched the new

campaign in our boxes as Cola so there's

a lot of things we can do with this we

call these restaurants our labs and

they're packed with technology packed

with sensors so we measure everything

MAC addresses Bluetooth beacons heat

mapping everything you can imagine we

measure in these restaurants and not

only we measure everything we also track

everything so in real time every 15

minutes we know how many phones are in

the store we know where they come from

we know if you've been with us before we

know our capture rate we know all the

data from the phones even if you're not

connected to our

or to our Bluetooth so once we have all

the understanding and tracker and

correlate that with weather and external

events we track for example dwell time

and time value right how much value can

we get out of every minute of our guests

which is extremely important and try to

take out every minute of the experience

that is not adding value but at the same

time understanding and if you can see on

the graph this is from December half of

our guests are in the store less than 30

minutes so basically out of the whole

experience if you think of dining

experience is divided in three parts

you're going to restaurant you talk to

the host you get seated you get a menu

you wait for your server get your

manager all that we take that out the

actual dining component is regularly 20

minutes we don't eat for more time with

that and then the third part is I want

my check etc etc so we try to take out

those parts and therefore we can have a

table turns a day at a restaurant so

it's a text driven experience this is

the first restaurant in the world to

have an accuracy of one inch we know

where your phone is with an accuracy of

one inch so unfortunately you cannot say

tried yesterday I wanted to have it

ready for the conference we're beta

testing or app and it worked like this

we're here we're hungry we place our

order we're not telling the restaurant

where work when we're coming whenever we

want we just walk into the restaurant

the moment we break the geofence the

orders triggered to the kts we can go

and sit wherever we want we don't have

to talk to anyone within five minutes

food is on the table when we are ready

we walk out and we're prompted like uber

thanks for coming how was your

experience do you wanna rate us do you

want a tip so the true frictionless

experience that if you don't want you

can just go in and out 20 minutes that's

really what we're getting our average 12

time in Stockholm is 18 minutes for

lunch some insights and and I shared

these a couple of years ago with you so

we worked with a lot of the environments

so this concept is called V V is the

Roman numeral five for the five senses

so we worked with Spotify in

understanding what music impacts on

guest behavior and one of the learnings

that we did with McDonald's

was the depending on if you play brand

fit music you're actually going to

upsell on your high margin product which

is extremely interesting there's a

report if you email me I'll be happy to

send the report in terms of how you can

drive sales or throughput through the

type of music you play so the more brand

connected music you play you're gonna

have higher sales so we do something

called a burr sound scan understanding

and there's no right or wrong a brand

could either be energetic or calm so

once you understand your brand values

Spotify has then logged all these

attributes to all the music in their

portfolio and then the algorithm can

create playlists automatically that are

fit for a specific brand another

learning is volume so we did this test

in restaurants that serve salads and

pizzas and salads and burgers so healthy

and unhealthy food when we play exactly

the same playlist at 15 decibels higher

the sales of unhealthy food ie pizzas

and burgers went up 10% so think of that

10% so now we you can create the right

buy algorithm knowing how what are

capacities in the store and how many

guests we have inside the store the

algorithm can automatically create the

right music in real time we also work

with scent strategy we had used wood

fire oven scent and fresh basil when we

changed from wood fire oven scent to

fresh basil scent our salad sales go up

13% so monday to wednesday we use fresh

basil Thursday to Sunday we use wood

fire oven so think of that we're now

doing real-time controls so we can

actually change the light temperature of

each individual bulb in the restaurant

in real time depending on exterior

weather conditions and how many guests

we have inside the store and finally one

of the things that we work a lot is how

do we retain talent we have almost no

turnover after month six of operation

and we listen a lot to these kids that

have never worked in a restaurant but

want to work in this cool space in town

and one of the things that are most

important to them is not disguise them

not dress them up they hate

uniforms so whenever we can we suggest

having brand style guides or dress codes

that within a range you can choose how

to express yourself very interesting

very relevant and we actually listen to

them and we build them together with

them so they're super proud of what they

wear and how they dress even when they

leave the restaurant so a quick recap

from the learnings we have throughput 30

seconds per guest ticket time our

Stockholm store is now doing 4.5 minute

average ticket time no cooks

cross-training on all platforms no food

cost that's the beauty of pizza is flour

and yeast and water get a lot of seats

in at a 3500 square feet we get over 180

seats use tech whenever possible all

these solutions are available we've just

taken them from other sectors high

liquor sales makes use your bars and

that results in really high a B does

even in high labor markets I don't want

to finalize I have 10 seconds left

without giving you a little giveaway

every year at live it we do a trend

report the 20 trends for the next 10

years you can take a picture of it and

download it for free where we share all

the learnings that we have from across

the world and with that I'll be around

for the rest of the conference if you

have questions we don't have time for

that but I want to thank you for your

time thanks